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Stocks Rise as Oil Slips Below $100 After Trump Extends Iran Ceasefire

North American markets opened higher this morning after President Trump extended the U.S.–Iran ceasefire, easing immediate geopolitical tensions and giving investors a reason to rotate back into risk assets. Oil prices slipped below the key $100 threshold for the first time in several sessions, reflecting reduced fears of supply disruptions through the Strait of Hormuz. Brent and WTI both moved lower in early trading as traders unwound some of the geopolitical risk premium that had built up over the past week. Equities responded positively, with major U.S. and Canadian indexes posting early gains. Tech, financials, and consumer stocks led the advance, while energy names lagged due to the pullback in crude. For Canadian investors, the dynamic is mixed: lower oil prices weigh on the TSX’s resource-heavy sectors, but a calmer geopolitical backdrop supports broader market sentiment and reduces inflationary pressure tied to energy costs.
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New Tax Measures in 2024


The Canadian government has introduced new tax measures that will affect Canadians in 2024. These measures include the elimination of some short-term rental deductions, new alternative minimum tax rates, and changes to Canada Pension Plan (CPP) contributions. The elimination of some short-term rental deductions was announced in the Fall Economic Statement (FES) and kicks in on Jan. 1. The federal government is now eliminating that tax break, denying operators of short-term rentals any income tax deductions for expenses if they operate in provinces or municipalities that have banned short-term rentals. In provinces that still allow short-term rentals, operators that are not compliant with local regulations and laws will also be denied the deduction.

The GST/HST exemptions will also be affected. The federal government announced it was taking the GST/HST off “professional services rendered by psychotherapists and counselling therapists.”

These changes are not expected to have a significant impact on most individuals, unless they’re high-income earners.

    

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